{"id":486,"date":"2024-12-02T13:16:53","date_gmt":"2024-12-02T13:16:53","guid":{"rendered":"https:\/\/productive.io\/bold\/?p=486"},"modified":"2024-12-31T12:06:34","modified_gmt":"2024-12-31T12:06:34","slug":"how-to-negotiate-more-profitable-deals","status":"publish","type":"post","link":"https:\/\/productive.io\/bold\/blog\/how-to-negotiate-more-profitable-deals","title":{"rendered":"Bold Session Recap \u2014 How To Negotiate More Profitable Deals"},"content":{"rendered":"

Interviews<\/a><\/p> –

{{minutes}} min read<\/p>

Bold Session Recap \u2014 How To Negotiate More Profitable Deals<\/strong><\/h1> \"\" <\/a>

Marija Kata Vla\u0161i\u0107<\/p><\/a>

December 2, 2024<\/p> \"\"

Meet Mike Lander, a former procurement director with over 20 years of experience managing procurement on a global scale<\/strong>.<\/p>

Mike has been on both sides of the table\u2014overseeing deals worth more than \u00a3500 million.

Now, he leverages his expertise to empower agencies and service providers with the skills to negotiate better, more profitable agreements.<\/strong>

Recently, we had the chance to sit down with Mike to discuss his insights on mastering negotiation and trading value, instead of defaulting to discounts.<\/p>

In the past, you have bought, grown, and sold businesses for seven-figure sums and negotiated deals worth over \u00a3500 million. How did you get where you are now?<\/strong><\/h2>

My career has been quite eclectic\u2014nonlinear\u2014and I think that\u2019s becoming more typical for people today. I started as an engineer, but I soon realized I wanted to explore more than just engineering. That curiosity led me into banking, which I found both challenging and rewarding.

Later, I decided to pursue an MBA, which opened doors to mainstream consulting. I worked with firms like KPMG, McKinsey, and PwC, where I was immersed in high-pressure environments, long hours, and complex problem-solving. These roles taught me a tremendous amount\u2014not just about consulting and procurement but also about understanding people, building relationships, and creating strategies that deliver long-term value.

Procurement became a key focus in my career, whether as a buyer, an advisor, or even running outsourced procurement services. Over time, I realized I had developed an aggregate understanding of how deals are made and how value is negotiated. This helped me execute over \u00a3500 million worth of goods and services transactions. After selling a procurement consultancy I co-founded, I felt ready for a new challenge.

It was my wife, a former CMO in the tech world, who suggested I use my buyer\u2019s expertise to support sellers. That idea really resonated with me, and now I work closely with agencies, helping them qualify opportunities more effectively, convert proposals into actual business, and negotiate more balanced, profitable contracts. The core of my work is helping sellers see the deal from the buyer\u2019s perspective so they\u2019re better equipped to succeed.<\/p>

Do you see negotiation as a big problem within the agencies you work with? What\u2019s the typical framework you apply?<\/strong><\/h2>

Yes, it\u2019s a significant challenge for many agencies. Often, agencies spend an enormous amount of time\u2014sometimes 30 or more hours\u2014developing creative proposals and preparing for pitches. They craft insights, conduct research, and rehearse their presentations to perfection. But when they\u2019re shortlisted, and it\u2019s time to negotiate the actual terms of the deal, they might spend less than an hour preparing. That\u2019s a huge missed opportunity.

On the other side of the table, buyers are often highly trained negotiators. Big brands understand that skilled negotiation drives profitability and value for years to come. This creates an imbalance where creative, agile, and innovative agencies face off against negotiation-savvy, process-driven buyers. The result? Agencies often agree to terms that compromise profitability and lead to challenges like over-servicing or fear of losing a major client.

To address this, I apply a four-step framework:<\/p>